6 unchanged sentences
The following table presents information related to interest rate contracts entered into by the Company and designated as cash flow hedges:
−Removed: September 30, 2019
−Removed: September 30, 2018
−Removed: (Dollars in thousands)
+Added: September 30, 2020 September 30, 2019
+Added: (Dollar amounts in thousands)
Pay fixed swaps - notional amount $ 312,500 $ 293,750
−Removed: Net unrealized (loss) gain
+Added: Net unrealized loss $ (7,792) $ (534)
Weighted-average maturity period (years) 2.6 1.9
3 unchanged sentences
Based on the Company's assessment, all the critical terms of each of the hedges matched the underlying terms of the hedged debt and related forecasted interest payments, and as such, these hedges were considered highly effective.
−Removed: The fair value of the interest rate swaps reflected an unrealized loss, net of unrealized gains, of $534,000 ( $403,000 after-tax) at September 30, 2019 that is included in equity as part of AOCI.
+Added: The fair value of the interest rate swaps reflected an unrealized loss, of $7.8 million ($5.9 million after-tax) at September 30, 2020 that is included in equity as part of AOCI.
A decrease of 10% in market interest rates (e.g., a decrease from 5.0% to 4.5%) would result in a decrease of approximately $1.0 million in the fair value of the interest rate swaps.
15 unchanged sentences
Impact of Changes in Actuarial Assumptions
−Removed: Change in Discount Rates
−Removed: Change in Expected Return
−Removed: Change in Market Value of Assets
+Added: Change in Discount Rates Change in Expected Return Change in Market Value of Assets
+Added: +1% -1% +1% -1% +5% -5%
(Dollar amounts in thousands)
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.